The Financial Action Task Force (on Money Laundering) has prepared recommendations for measures to stop money laundering and the funding of terrorism. At EU level these requirements are part of Directive (EU) 2015/849 of 20 May 2015. The recommendations have been passed into Latvian legislation, and the requirements of the directive are to be adopted in the near future. The Council of Europe’s Moneyval Committee is to visit Latvia this autumn in order to assess the efficiency of Latvia’s anti-money laundering and counter-terrorist financing system. Since tax consultants and external accounting service providers are required to report suspicious transactions, this article explores certain statutory requirements and aspects to consider when dealing with customers.